Innovid merges with ION-backed SPAC, will go public on NYSE

Innovid, a connected TV advertising delivery and measurement platform, will merge with ION Acquisition Corp. 2 Ltd, a blank check company backed by ION Crossover Partners Ltd.

Innovid, a connected TV advertising delivery and measurement platform, will merge with ION Acquisition Corp. 2 Ltd, a blank check company backed by ION Crossover Partners Ltd. The combined company will operate under the Innovid name and trade on the New York Stock Exchange under ticker symbol “CTV.” Also, Innovid and ION have secured a private placement of $50 million.

PRESS RELEASE

NEW YORK, Oct. 20, 2021 (GLOBE NEWSWIRE) — Innovid, a leading independent connected TV (CTV) advertising delivery and measurement platform, and ION Acquisition Corp. 2 Ltd. (“ION”) (NYSE:IACB), a special purpose acquisition company, today announced an additional $50 million private placement of common stock (“PIPE”) from a group of existing PIPE investors adding to initial commitments on the same terms as the initial PIPE financing in their recently announced business combination transaction. This brings the aggregate amount of PIPE commitments to $200 million.

The combined company will operate under the Innovid name and will trade on the NYSE under the CTV ticker symbol to align with Innovid’s capabilities and leadership position in the CTV advertising ecosystem. Utilizing its advanced technology infrastructure stack that enables the creation, delivery, and measurement of CTV advertising, Innovid has been integral to empowering many of the world’s leading brands to shift advertising investments from traditional linear TV to CTV and currently serves over 40% of the top 200 U.S. TV advertisers. Innovid’s strong history of product innovation, growth, and financial performance positions it as a leader in the increasingly influential CTV market.

“The rapid increase in CTV advertising investment has created an undeniable opportunity for Innovid’s independent technology platform to deliver and measure CTV advertising free of media bias,” said Zvika Netter, CEO of Innovid. “This expanded investment further demonstrates a vote of confidence from leading institutional investors in our vision after a strong first half of 2021. We believe this is only the beginning as more viewers and dollars shift from linear TV to CTV, and are proud to carry the CTV name in our ticker symbol.”

Gilad Shany, CEO of ION said, “We are pleased to see additional demand from top-tier investors as we approach the closing of our business combination with Innovid. Demand for the PIPE continues to exceed our initial targets and the expansion to $200 million under the current market conditions is a powerful testament to the business Innovid has built and its future growth opportunity. I look forward to joining the board after closing and deepening the close strategic relationship ION has built with Innovid’s management team over the last few months.”

The transaction is expected to close in Q4 of 2021.

About Innovid
Innovid powers connected TV (CTV) advertising streaming, personalization, and measurement for the world’s largest brands. Through a global infrastructure that enables data-driven personalization, real-time decisioning, scaled ad serving, and accredited measurement, Innovid offers its clients and partners streamlined solutions that optimize the value of advertising investments across screens and devices. Innovid is an independent platform that leads the market in CTV innovation, powered proprietary technology and exclusive partnerships designed to fuel the future of TV advertising.
Headquartered in New York City, Innovid serves a global client base through offices across the Americas, Europe, and Asia Pacific. To learn more, visit innovid.com or follow us on LinkedIn or Twitter.

About ION Acquisition Corp 2
ION is a blank check company incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. While ION may pursue a business combination target in any business or industry, ION is focused on the rapidly growing universe of Israeli companies and entrepreneurs that apply technology and innovation to our everyday lives. The Company is sponsored by ION Holdings 2, LP., an affiliate of ION Crossover Partners Ltd.